Mario, a single taxpayer with two dependent children, has the following items of income and expense during 2019: gross receipts from business $144,000 business expenses 180,000 net capital gain 22,000 interest income 3,000 itemized deductions (state taxes, residence interest, and contributions) 24,000 a. determine mario's taxable income or loss for 2019. if required, use the minus sign to indicate a negative agi or a loss.

Colorado rocky cookie company offers credit terms to its customers. at the end of 2018, accounts receivable totaled $715,000. the allowance method is used to account for uncollectible accounts. the allowance for uncollectible accounts had a credit balance of $50,000 at the beginning of 2018 and $30,000 in receivables were written off during the year as uncollectible. also, $3,000 in cash was received in december from a customer whose account previously had been written off. the company estimates bad debts by applying a percentage of 15% to accounts receivable at the end of the year. 1. prepare journal entries to record the write-off of receivables, the collection of $3,000 for previously written off receivables, and the year-end adjusting entry for bad debt expense.2. how would accounts receivable be shown in the 2018 year-end balance sheet?